Asked by Christina Nestor on Jun 03, 2024
Verified
The content of the basket of goods and services used to compute the CPI changes every month.
Basket Of Goods
A fixed set of consumer products and services valued on a regular basis for purposes of tracking inflation.
CPI
The Consumer Price Index measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.
Every Month
Refers to occurrences or measurements that happen or are evaluated on a monthly basis.
- Acquire an understanding of the concept and the computational process of the Consumer Price Index (CPI).
- Understand the regularity and extent of Consumer Price Index (CPI) data gathering and revisions.
Verified Answer
ZK
Zybrea KnightJun 07, 2024
Final Answer :
False
Explanation :
The basket of goods and services used to compute the Consumer Price Index (CPI) is updated periodically, not monthly, to reflect changes in consumer habits and preferences.
Learning Objectives
- Acquire an understanding of the concept and the computational process of the Consumer Price Index (CPI).
- Understand the regularity and extent of Consumer Price Index (CPI) data gathering and revisions.